As an independent enterprise legal person management organization, a wholly state-owned company should have a sound leadership system and institutions, including the functions of decision-making, implementation and supervision.
1, the authority of a wholly state-owned company
A wholly state-owned company does not have a shareholders' meeting, and the decision-making function can only be performed by the sole shareholder of the wholly state-owned company, that is, the state-authorized investment institution or the state-authorized department;
2, the executive body of a wholly state-owned company
The executive body of a wholly state-owned company is the board of directors. Due to the authorization of investors, the board of directors of the company has certain decision-making power. The board of directors of the company consists of 39 directors. The board of directors shall have a chairman and, if necessary, a vice chairman. A wholly state-owned company shall have a manager who shall be appointed or dismissed by the board of directors. Without the consent of the state-authorized investment institution or the state-authorized department, the chairman, vice-chairman, directors and manager of a wholly state-owned company shall not concurrently serve as the person in charge of other or other operating institutions;
3. Supervisory organs of wholly state-owned companies
According to Article 67 of the Company Law: "State-authorized investment institutions or state-authorized departments shall supervise and manage the state-owned assets of wholly state-owned companies in accordance with the provisions of laws and administrative regulations."
To sum up, the shareholders' meeting, as the organ for all shareholders to exercise their rights and as the authority of the company, is a necessary institution of the limited company.
Legal basis:
Article 66 of the Company Law
The functions and powers of the shareholders of a wholly state-owned company shall be exercised by the investors-institutions or departments authorized by the state to invest, or the board of directors. At the same time, it also restricts this authorization, stipulating that some important matters must be decided by the investor-the investment institution authorized by the state or the department authorized by the state. These matters that must be decided by investors (shareholders) are: merger and division of the company; Dissolution of the company; The company increases or decreases its capital; Issue corporate bonds.